Independent Standard-Setting Boards

The International Auditing and Assurance Standards Board sets high-quality international standards for auditing, assurance, and quality control that strengthen public confidence in the global profession.

The International Accounting Education Standards Board establishes standards, in the area of professional accounting education, that prescribe technical competence and professional skills, values, ethics, and attitudes.

The International Public Sector Accounting Standards Board develops standards, guidance, and resources for use by public sector entities around the world for preparation of general purpose financial statements.

Governance

The recent financial and economic crises exposed many corporate governance weaknesses—but, at the same time, they created momentum for change. Effective governance encourages better organizational decision-making, accountability, and robust scrutiny of organizational performance. Accountants are in an excellent position to ensure that governance is integrated into the very DNA of their organizations, which has been identified as critical to its effectiveness. Read More

This Framework, developed by IFAC and CIPFA, was created to help improve and encourage effective public sector governance. It encourages better governed and managed public sector organizations by improving decision making and the efficient use of resources.

Includes a framework-consisting of a series of fundamental principles, supporting guidance, and references-for how professional accountants can contribute to evaluating and improving governance in organizations.

One of the 12 key standards for international financial stability used by the Financial Stability Board that form the basis for the corporate governance component of the Reports on the Observance of Standards and Codes from the World Bank.

A reference for both seasoned and new audit committee members as they address areas such as oversight of internal controls, financial reporting, risk, interaction with the internal and independent auditors, and review of earnings press releases.

Paul Kazarian, Chief Executive and Chairman of Japonica Partners, speaking at the CIPFA International Seminar in London on 7 July 2015, on the need for international standards and good public financial management, with reference to the Greek example.

The BIAC publication explains what companies need to know about the Guidelines, including the role of the National Contact Points (NCPs), which provide a unique grievance mechanism to contribute to the resolution of issues that may arise with regard to the implementation of the Guidelines.